Lithium-ion battery maker Inverted Energy Pvt Ltd on Monday announced a buyback programme for its e-rickshaw batteries, offering to pay Rs 10,000 upon expiry of the product warranty period.
The programme will be launched on October 20 with an aim to encourage e-rickshaw owners to switch to green energy, the company said in a statement.
“Our buyback offer underscores our belief in our product and our commitment in creating a stronger and cleaner India.
“Inverted Energy is paying back this amount after the warranty period ends, intending to encourage more rickshaw riders to switch to green energy, and contribute to building a cleaner and more efficient world,” Inverted Energy Cofounder Raghav Jain said.
The company claimed that currently, out of 15 lakh e-rickshaws in the country, only 1-2 per cent are lithium-ion run e-rickshaws, mainly due to lack of awareness and their perceived cost differentials.
“Three-wheeler lithium-ion batteries consume 40 per cent less energy, charge 7 times faster, and have 3 times longer life than conventional batteries. They also outperform typical lead-acid batteries in ranges of more than 100km,” the company said.
Inverted Energy said it aims to take the first step towards motivating more e-rickshaw drivers to switch to green energy, leading to a smaller footprint of their energy consumption and emissions, across the life cycle of their batteries.